Benzinga | May 11, 2021 07:09AM EDT

Schrdinger Reaffirms FY21 Sales Guidance Of $124M-$142M vs $137.32M Est.

Full-Year 2021 Financial Outlook

As of May 11, 2021, Schr?dinger continues to expect total revenue to range from $124 million to $142 million, with software revenue expected to range from $102 million to $110 million and drug discovery revenue expected to range from $22 million to $32 million for the fiscal year ending December 31, 2021. Additional details are as follows:

* Software revenue growth is expected to be higher in the second half of the year with the majority of second half growth in the fourth quarter of 2021.

* Drug discovery revenue is expected to be highly variable quarter to quarter based on the timing of potential milestones related to collaborative agreements.

* Schr?dinger continues to aggressively fund R&D to advance its technology and drug discovery pipeline. The company expects operating expense growth to be higher than the 42% annual growth rate reported in 2020 and expects software gross margin to be lower than the 81% reported in 2020.